BAD NEWS FOR KENYANS AS SHILLING SKYROCKETS

As Christmas draws near, the Kenyan shilling is still not breathing against the US Dollar. On Friday, the local currency fell to the lowest in history against the US Dollar.

Exchange Rate Performance

On Friday, the Kenyan shilling weakened 0.04 percent to close at 123.21 (-8.90 percent year-to-date). The shilling also weakened 0.04 percent against the Euro to close at 130.93 (-2.29 percent year-to-date). It, however, strengthened 0.67 percent against the Euro to close at 148.54 (+2.31 percent year-to-date).

Kenyan Stock Market

Total equity turnover increased by 244.27 percent to close at USD 2.73 MN (KES 336.22 MN) compared to yesterday’s turnover of USD 0.79 MN (KES 97.66 MN).

NSE 20 and NASI edged up by 0.52 percent and 0.09 percent to close at 1,663.36 and 128.09 respectively.

Foreign investors assumed a net selling position by accounting for 68.98% of total market purchases and 93.24 percent of total market sales.